DBN approves N$398m in Q3

Tue, 29 October 2013 19:24
by News Flash

The Development Bank of Namibia (DBN) approved loans totalling N$398m in the third quarter (Q3) of 2013.
Of this, 83% was allocated to larger enterprises while 16.6% was allocated to small and medium enterprises (SMEs), says the acting head of lending, John Mbango.
“The bank has signalled its intent to shift its focus to larger enterprises to create mass employment. However, allocations to the SME sector are still in range with previous approvals,” adds Mbango.
The approvals are projected to affect 1 981 jobs, of which 565 are expected to be new, 569 temporary and 847 retained. Of the approvals, 91% are allocated to previously-disadvantaged Namibians and 30% of that is allocated to enterprises owned by women.
Transport and communication received the biggest chunk of loans with N$204.4m, which constitute 51% of the loans approved, followed by manufacturing with N$75m.
Projects with national impact received the lion’s share, totalling N$206.5m, followed by the Otjozondjupa Region with N$75.5m and the Erongo Region with N$54.8m.